3 minutes to learn about yourself What is bitcoin mining and how does the blockchain bitmain t17+consensus management mechanism

Bitcoin is a virtual currency, and the Bitcoin mining system compensates miners who use bitmain t17+computer hardware to perform mathematical calculations for the Bitcoin network, as network rewards are calculated based on the tasks performed by miners, and competition to mine for them is fierce. What does it really mean when it is said that Bitcoin is "mined" and must be "mined"?

To determine who owns the account, Bitcoin employs a consensus mechanism known as "PoW (proof of work)." What exactly is a consensus mechanism? A system in which nodes compete for fees is at the heart of blockchain technology. This competition is judged by a standard known as "consensus mechanism," and different blockchains may employ various consensus mechanisms.

What exactly is a proof-of-work system? This means that the system will generate a proof problem that is difficult to compute but simple to verify. Anyone verifying the answer after the proof submits an answer will be convinced that a significant amount of antminer a10 procomputation has gone into the proof in order to get the result. The more powerful the certifier, the faster they are likely to complete the proof, and the system will reward the first certifier with bitcoins. This is known as "mining," and the specialized computers designed to handle the massive computational power are known as "mining machines."

The mechanism of proof-of-work is widely used in society, most notably in academic exams. Getting enough questions right in a short period of time indicates that it took a significant amount of time to study, not just luck.

Some may argue that the mechanism represents a significant waste of human resources; the Bitcoin network consumes enormous and growing amounts of electricity to perform analytical calculations and is expected to consume as much electricity as the entire country of Denmark, China, by 2020, while ultimately achieving these student computing research results we have no other corporate practical or scientific social value. However, proponents argue that the massive investment makes attacking the Bitcoin blockchain so difficult that Bitcoin will become the most secure "data anchor" currently built to influence humanity.

Others have suggested using the "Pos, Proof of Stake" mechanism, which calculates the percentage of your money held in the system's total currency, as well as the length of time you've held it, to determine the likelihood that you'll be correctly credited.

This is similar to a traditional stock market. Everyone in a company receives dividends in proportion to a10 pro minertheir holdings, with those who own more shares receiving more. The reason for this security mechanism is that people who own stock will not attack the company because doing so would result in a financial loss, and people who do not own stock cannot pose a threat to the company.

Opponents of the certification scheme argue that it will widen the financial system's wealth gap by making it easier for those with more money to "steal" new money, implying that those with more shares will receive more dividends. However, proponents argue that there is no reason for blockchain to solve the system's inequality problem, which exists in proof-of-work systems where the rich have more computing power and money.